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Public-Private Partnership (P3)

In accordance with theState Finance and Procurement Article,§ lOA-101, Annotated Code of Maryland:

(f) (1)"public-privata partnership" means a method for delivering public Infrastructure assets using a long-term  performance-based agreement between reporting agency and a private entity where appropriate risks and benefits can be allocated in a cost-effective manner between the contractual partners in which:

(i) a private entity performs functions normally undertaken by government, but the reporting agency remains ultimately accountable for the public infrastructure asset and its public function; and
 
(ii) the State may retain ownership in the public lnfrastructure asset and the private entity may be given additional decision-making rights in determining how the asset is financed, developed, constructed, operated, and maintained over its lifecycle.
The Maryland Department of Transportation is exploring the potential to utilize a P3 on I-495 and I-270 as part of Congestion Relief Improvements for I-495 and I-270. A Request For Information (RFl) has been posted at the following location: I-495 and I-270 Public Private Partnership - Request For Information.

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